TYLER, Texas, April 19 /PRNewswire-FirstCall/ -- The Board of Directors of
Southside Bancshares, Inc., (Nasdaq: SBSI), parent company of Southside Bank
declared a 5% common stock dividend payable to common stock shareholders of
record May 9, 2007. The stock dividend is scheduled for payment on May 23,
2007.
In a separate action, the Board of Directors approved a $0.01, or 9.09%,
increase in future quarterly cash dividends for 2007, from $0.11 to $0.12 per
share of common stock.
Southside Bancshares, Inc. is a bank holding company with approximately
$1.82 billion in assets that owns 100% of Southside Bank. Southside Bank
currently has 35 banking centers in East Texas and operates a network of
40 ATMs.
To learn more about Southside Bancshares, Inc., please visit our investor
relations website at http://www.southside.com/investor. Our investor
relations site provides a detailed overview of our activities, financial
information, and historical stock price data. To receive e-mail notification
of company news, events, and stock activity, please register on the E-mail
Notification portion of the website. Questions or comments may be directed to
Susan Hill at (903) 531-7220, or susanh@southside.com.
Forward-Looking Information
Certain statements of other than historical fact that are contained in
this document and in written material, press releases and oral statements
issued by or on behalf of the Company, a bank holding company, may be
considered to be "forward-looking statements" within the meaning of and
subject to the protections of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are not guarantees of future
performance, nor should they be relied upon as representing management's views
as of any subsequent date. These statements may include words such as
"expect," "estimate," "project," "anticipate," "appear," "believe," "could,"
"should," "may," "intend," "probability," "risk," "target," "objective,"
"plans," "potential," and similar expressions. Forward-looking statements are
statements with respect to the Company's beliefs, plans, expectations,
objectives, goals, anticipations, assumptions, estimates, intentions and
future performance and are subject to significant known and unknown risks and
uncertainties, which could cause the Company's actual results to differ
materially from the results discussed in the forward-looking statements. For
example, discussions of future dividends, the effect of the Company's
expansion, including expectations of the costs and profitability of such
expansion, trends in asset quality and earnings from growth, and certain
market risk disclosures are based upon information presently available to
management and are dependent on choices about key model characteristics and
assumptions and are subject to various limitations. By their nature, certain
of the market risk disclosures are only estimates and could be materially
different from what actually occurs in the future. As a result, actual income
gains and losses could materially differ from those that have been estimated.
Additional information concerning the Company and its business, including
additional factors that could materially affect the Company's financial
results, is included in the Company's Annual Report on Form 10-K for the year
ended December 31, 2006 under "Forward-Looking Information" and Item 1A. "Risk
Factors," and in the Company's other filings with the Securities and Exchange
Commission. The Company disclaims any obligation to update any factors or to
announce publicly the result of revisions to any of the forward-looking
statements included herein to reflect future events or developments.
SOURCE Southside Bancshares, Inc.
Contact: Lee Gibson of Southside Bancshares, Inc., +1-903-531-7221